Senior Compliance Officer

BMO; Toronto; On-site; CAD 74,000 - 139,000; Full time

Job summary

BMO is seeking a Compliance Officer for its Toronto location. The candidate will implement compliance programs, ensure regulatory obligations are met, and advise on emerging risks. With at least 6 years of experience and a relevant degree or certification, this role is pivotal in maintaining the bank's compliance standards. A strong background in consumer protection regulations, project management, and analytical skills is essential for success.

Benefits

Health insurance

Tuition reimbursement

Life insurance

Retirement savings plans

Qualifications

• Typically minimum of 6 years of relevant experience.
• Detailed knowledge of consumer protection regulations required.
• Skilled in regulatory/compliance requirements.

Responsibilities

• Assists in the implementation and maintenance of compliance programs.
• Advises business on regulatory developments.
• Develops compliance information for analysis and reporting.

Skills

Communication

Critical Thinking

Relationship Management

Project Management

Analytical Skills

Problem Solving

Influence Skills

Education

Post-secondary degree in related field

Recognized compliance certificate

Job description

Assists in the implementation, maintenance and administration of a specific compliance program. Coordinates and performs risk assessment, monitoring, testing and surveillance activities to ensure program remains current and aligned with BMO Compliance Program. Works with business / group and internal partners to ensure regulatory, corporate and fiduciary obligations are met. Advises business / group on implications of new regulatory developments or internal products, and assists to implement new / revised policies and programs to address them. Identifies risks and implements appropriate actions to mitigate them. Develops and maintains compliance information for analysis and reporting. Achieves compliance goals by maintaining current knowledge of regulatory requirements and developments. Maintains functional and regulatory expertise specific to business group, and refers to Compliance Policies & Procedures manuals for requirements. Contributes to business / group results by providing oversight and making recommendations that significantly impact the Bank's ability to monitor regulatory compliance programs, minimize operational risk and align with regulatory agencies.

• Provides advice and guidance to assigned business / group on implementation of solutions aligned to regulatory risk appetite based on an understanding of business operations and stakeholder needs.
• Consults on new products, services and automated systems to assist with incorporating compliance requirements into these initiatives.
• Influences to achieve effective regulatory compliance controls that enable business objectives.
• Identifies and advises on emerging issues and trends to inform decision-making.
• Helps determine business priorities and best sequence for execution of business / group strategy.
• Builds effective professional relationships with business group, internal / external stakeholders and trust with regulators.
• Analyses and reports on compliance data, and related data to gain insights on regulatory risk.
• Oversees the development and maintenance of guidelines and procedures, providing advice / rulings as necessary, for a single function within a geographic area.
• Participates in the design, implementation and management of core business / group processes.
• Conducts and / or effectively challenges risk assessments for business / group and assists to identify more effective compliance controls.
• Performs and / or effectively challenges monitoring and testing activities to ensure regulatory compliance controls are operating and aligned to regulatory requirements.
• Supports root cause analysis in response to material control failures in business / group.
• Identifies, assesses, effectively challenges and oversees the satisfactory resolution of issues, including ensuring adequate management remediation plans and validation.
• Elevates high profile issues / risk cases to Compliance and business / group management for prompt resolution.
• Analyzes and reports compliance information to Compliance and business / group management.
• Develops and maintains a high level of expertise in all regulations, directives and guidance which apply to the group(s) supported.
• Provides input to business / group on emerging risks, regulatory developments and interpretation of regulations.
• Conducts and / or effectively challenges risk assessments for business / group and assists to identify more effective compliance controls.
• Performs and / or effectively challenges monitoring and testing activities to ensure regulatory compliance controls are operating and aligned to regulatory requirements. Supports root cause analysis in response to material control failures in business / group.
• Identifies, assesses, effectively challenges and provides oversight on the satisfactory resolution of issues, including ensuring adequate management remediation plans and validation. Elevates high profile issues / risk cases to Compliance and business / group management for prompt resolution.
• Analyzes and reports compliance information to Compliance and business / group management.
• Advises first line of defense management and employees on compliance matters.
• Consults on new products, services and automated systems to assist with incorporating compliance requirements into these initiatives.
• Ascertains training needs and helps develop training based on gaps identified through the compliance monitoring and testing.
• Identifies enhancements to business group compliance tools and processes and communicates to required stakeholders.
• Assists business group management in communicating and implementing changes to applicable regulatory policies and procedures.
• Represents the business / group Compliance team and interacts with examiners / auditors during internal, external and regulatory audits and examinations.
• Provides regulatory perspective on business group's sales and marketing materials.
• Anticipates / identifies and analyses risk and consequences of unaddressed risk factors / compliance gaps, and recommends appropriate controls.
• Builds effective professional relationships with business / groups.
• Operates effectively within a high stress environment with constantly changing expectations and regulatory & audit scrutiny.
• Accesses, monitors and reports on sensitive Bank, customer, transactional and employee information to ensure compliance with regulatory requirements.
• Communicates the roles and importance of each of the three lines of defense, and proactively identifies regulatory risk.
• Focus is primarily on business / group within BMO; may have broader, enterprise-wide focus.
• Provides specialized consulting, analytical and technical support.
• Exercises judgment to identify, diagnose, and solve problems within given rules.
• Works independently and regularly handles non-routine situations.
• Broader work or accountabilities may be assigned as needed.

Qualifications :

• Typically minimum of 6 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
• Recognized compliance certificate or equivalent preferred.
• Detailed knowledge of consumer protection regulations and related marketing and advertising guidelines.
• Skilled knowledge of regulatory / compliance requirements and the operations of a single client group.
• May require experience at regulatory body for one or more compliance area(s).
• Strong communication, critical thinking, relationship management and project management skills.
• Deep knowledge and technical proficiency gained through extensive education and business experience.
• Collaboration & team skills - In-depth.
• Analytical and problem solving skills - In-depth.
• Influence skills - In-depth.

Grade : Job Category :

Salary :

74,800.00 - $138,600.00

The salary range provided reflects BMO Financial group's compensation range for the grade band associated with this position.

Salary placement within the range outlined above is role-based and will vary based on factors such as location, skills, experience, education and qualifications for the role, and may include a commission structure. These ranges were determined by a market-based compensation approach; we used data from trusted third-party compensation sources to set consistent, and competitive ranges. We regularly evaluate compensation, identify any changes in the market and adjust our ranges and existing employee compensation as needed.

Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group's expected target for the first year in this position.

BMO's comprehensive total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit : https : / / jobs.bmo.com / global / en / Total-Rewards

About Us

At BMO we are driven by a shared Purpose : Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one - for yourself and our customers. We'll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we'll help you gain valuable experience, and broaden your skillset.

BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other's differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

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Compliance Officer • Toronto, Ontario, Canada